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Is the Corporation you manage at Risk? |
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Finance Risk: High risk due to large amount of data manipulation in Excel. In addition, a high reliance on reports from source systems that were poorly understood by tax and are rarely tested.
Operation Risk: Reliance on a single tax professional and tax consultants can translate into personnel shortage and turnover problems. Lack of entire process visibility, coupled with difficulty in coordinating activities.
Process Risk: Tax processes (Provision, State Compliance, Federal Compliance, Audit etc) treated as disconnected activities.
Technology Risk: Ineffective use of technology resulting in extensive manual processes that are prone to errors. High tax technical risk due to lack of planning and analysis. So much spent getting it done, no time to get it right.
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